Safilo Completes Acquisition of the Polaroid Eyewear Business

PADUA, Italy— Safilo Group S.p.A. has announced they have completed the acquisition of the Polaroid Eyewear business which VMail first reported on Nov. 17, 2011.

“We are extremely proud of the completion of the acquisition of Polaroid Eyewear, a historical yet contemporary business which will contribute to achieving the full potential of Safilo by expanding its offering in the specialist market segment which promises considerable future growth,” said Roberto Vedovotto, CEO of the Safilo Group. “At exactly its 75th anniversary, Polaroid joins Safilo’s own brand portfolio as the pioneer of the polarized lens technology and an iconic brand in the sunglass product category.”

Vedovotto went on to say that the company has “ambitious development projects for Polaroid, not only in Europe but also in those significant markets where the brand is currently under-represented and where the distribution network of Safilo Group will allow a prompt and solid expansion.”

According to the company, with Polaroid on board, they also have the opportunity to increase their polarized products offerings “thereby strengthening the group in a business area which is constantly growing and which allows for further enhancement of [their] eyewear collections.”

Polaroid will occupy an important place alongside the company’s other owned brands, including Carrera, Safilo and Smith, the company said.